Claim Against Oppenheimer, Energy Losses

Posted on Thursday, August 25th, 2016 at 5:35 pm    

The Miami-based law firm of Erez Law recently filed a FINRA arbitration claim against Oppenheimer & Co. on behalf of investors who suffered significant losses in energy sector companies including:

The Claim asserts that Oppenheimer recommended a reckless and grossly unsuitable investment strategy of concentrating the Claimants’ investment portfolio in risky stocks from the volatile energy sector. The Claim asserts that Oppenheimer failed to follow one of the cardinal rules of investing: diversification. By recommending a portfolio that was concentrated in highly correlated investments from the same sector, Oppenheimer created an investment portfolio that was extremely vulnerable to a decline in the energy sector. This high risk investment strategy had disastrous results for the Claimants who lost more than $1 million of their retirement savings.

In 2014 and 2015, the price of oil collapsed and the energy sector began to experience widespread financial turmoil. On April 14, 2016, Energy XXI filed for bankruptcy protection. On May 11, 2016, Linn Energy filed for chapter 11 bankruptcy. On May 16, 2016, Breitburn Energy Partners also filed for bankruptcy protection. In total, more than 65 U.S. oil and gas companies have filed for bankruptcy since the price of oil collapsed last year. In 2016 alone, at least 29 oil and gas companies have filed for bankruptcy. Some of the largest recent oil and gas sector bankruptcies include:

If you or a loved one suffered losses in an investment portfolio that was concentrated in Brietburn Energy Partners, Sandridge Permian Trust, Linn Energy, Energy XXI, Atlas Resource Partners, Vanguard Natural Resources, Penn West Petroleum or other energy sector investments, call (888) 840-1571 for a free consultation. The law firm of Erez Law handles cases throughout the United States and represents investors in claims against Oppenheimer, RBC, Morgan Stanley, UBS, Citigroup, Wells Fargo, JP Morgan and numerous other investment firms throughout the country. Consultations are always free of charge. Se habla Espanol.

Disclaimer: Clients are responsible for costs. Contingency fee is calculated before deducting costs incurred in the case.